Committed to ShareholderValue CreationCIBC Whistler Institutional Investor ConferenceJanuary 24, 2013
FORWARD LOOKING STATEMENTSCertain information included in this presentation constitutes forward-looking statements, includ...
Capital Markets Profile                                                                                 Analyst CoverageCa...
Recent DevelopmentsRecent News Flow•   Sale of Australian assets closed May 4/12 (gross proceeds $150M)•   Sale of El Cubo...
High Quality Asset Base     A Leading Pure Gold Producer Focused on Quality Assets in North America                       ...
Compelling Value PropositionRepositioning for Consistent, Reliable, Sustainable Growth• High quality asset base • North A...
Young-Davidson                                                                                                            ...
El Chanate MineDelivering consistent, stable results; lowest quartile cash costs              Open Pit Tonnes Per Day     ...
New Discoveries at El Chanate                                   Loma Prieta                Hole ID From (m)     To (m) Len...
Free Cash Generating CapacityIncreasing production profile at declining cash costs                   2012E                ...
Compelling Value PropositionRepositioning for Consistent, Reliable, Sustainable Growth• High quality asset base • North A...
Committed to ShareholderValue CreationCIBC Whistler Institutional Investor ConferenceJanuary 24, 2013
Management and Board of DirectorsExecutive Management TeamScott Perry - President and Chief Executive OfficerPeter MacPhai...
14
15
Proven and Probable Reserves                               Proven Reserves                                    Probable Res...
Measured and Indicated Resources                               Measured Resources                                         ...
Inferred and Copper Resources                               Inferred Resources                                  Tonnes    ...
Notes to Reserves and ResourcesNotes to Reserves and Resources:• Mineral Reserves and Resources have been stated as at Dec...
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Committed to Shareholder Value Creation - CIBC Whistler Institutional Investor Conference

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Committed to Shareholder Value Creation - CIBC Whistler Institutional Investor Conference

  1. 1. Committed to ShareholderValue CreationCIBC Whistler Institutional Investor ConferenceJanuary 24, 2013
  2. 2. FORWARD LOOKING STATEMENTSCertain information included in this presentation constitutes forward-looking statements, including any information as to our projects, plans and futurefinancial and operating performance. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”,“believe”, “anticipate”, “will”, “intend”, “estimate”, “forecast”, “budget”, “schedule” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, areinherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actualresults to differ materially from those projected in the forward-looking statements.Such factors include, but are not limited to: changes to current estimates of mineral reserves and resources; fluctuations in the price of gold; changesin foreign exchange rates (particularly the Canadian dollar, Mexican peso and U.S. dollar); the impact of inflation; changes in our credit rating; theongoing substantial issuer bid; any decisions to implement a dividend; employee relations; litigation; disruptions affecting operations; availability of andincreased costs associated with mining inputs and labor; development delays at the Young-Davidson mine; operating or technical difficulties inconnection with mining or development activities; inherent risks associated with mining and mineral processing; the risk that the Young-Davidson, andEl Chanate mine and may not perform as planned; uncertainty with the Company’s ability to secure capital to execute its business plans; thespeculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; contests over title toproperties; changes in national and local government legislation in Canada, Mexico and other jurisdictions in which the Company does or may carry onbusiness in the future; risk of loss due to sabotage and civil disturbances; the impact of global liquidity and credit availability and the values of assetsand liabilities based on projected future cash flows; risks arising from holding derivative instruments; business opportunities that may be pursued bythe Company Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from thoseexpressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are notguarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionary statements.Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatoryauthorities for a discussion of some of the factors underlying forward-looking statements.The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, futureevents or otherwise, except as required by applicable law.Cautionary Note to U.S. Investors Concerning Measured, Indicated and Inferred ResourcesThis presentation uses the terms "measured," "indicated " and "inferred” resources. We advise investors that while those terms are recognized andrequired by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. Under Canadian rules, estimatesof inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume thatall or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned notto assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. 2
  3. 3. Capital Markets Profile Analyst CoverageCapital Structure Company Analyst BMO Nesbitt Burns Brian QuastFully diluted shares Canaccord Genuity Rahul Paul 293MMoutstanding1,2 CIBC Cosmos Chiu Credit Suisse Anita SoniMarket Capitalization $2.3B Dahlman Rose Adam P. Graf Desjardins Securities Adam MelnykNYSE & TSX 3-months avg. 4.8MMdaily trading volume Dundee Securities Ron Stewart1. Excluding convertible debentures GMP Securities Craig West2. Prior to completion of a US$300M Substantial Issuer Bid Mackie Research Barry Allan$12.00 9,000,000 8,000,000 Macquarie Securities Tony Lesiak$10.00 7,000,000 Merrill Lynch Mike Parkin $8.00 6,000,000 National Bank Paolo Lostritto 5,000,000 $6.00 4,000,000 Raymond James Gary Baschuk $4.00 3,000,000 RBC Capital Markets Dan Rollins 2,000,000 $2.00 Scotia Capital Trevor Turnbull 1,000,000 $0.00 0 TD Securities Steven Green UBS Chris Lichtenheldt Volume Close 3
  4. 4. Recent DevelopmentsRecent News Flow• Sale of Australian assets closed May 4/12 (gross proceeds $150M)• Sale of El Cubo closed July 13/12 (gross proceeds $200M) • Sale of equity interest in Endeavour Silver and Crocodile Gold (gross proceeds $104M)• Sale of Ocampo closed Dec 14/12 (gross proceeds of $750M)• Repayment of $128M debt facility• Settlement of McKenna Class Action ($13.25M)• Announcement of $300M Substantial Issuer Bid• Commercial production declared at Young-Davidson (Sept 1/12)• Q4 & 2012 production / 2013 guidanceUpcoming News Flow• Closing of Substantial Issuer Bid (Jan. 23/13)• Reserve and Resources Update (Feb 28/13)• Q4 & YE Financial Results (week of March 25)• Details of the Company’s inaugural dividend policy (before the end of March) 4
  5. 5. High Quality Asset Base A Leading Pure Gold Producer Focused on Quality Assets in North America Young-Davidson, Canada 2012A 2013E Production Au oz. 56,138 120-140k Cash Costs per Au oz.1 $690-$170 $575-$675 2011 Reserves and Resources (000’s oz Au) Proven and Probable Reserves 3,831 2.56 Au g/t 2 Kemess 2 Measured and Indicated Resources 956 2.03 Au g/t Inferred Resources 1,431 2.43 Au g/t 2 Young-Davidson Kemess, Canada - Gold 2011 Resources (000’s oz Au) Measured and Indicated 2,610 0.56 Au g/t 2 Resources Inferred Resources 90 0.42 Au g/t 2 El Chanate, Mexico 2012A 2013E Kemess, Canada - Copper Production Au oz. 71,145 70-80k El Chanate 2011 Resources (000’s lbs Cu) Cash Costs per Au oz.1 $425-$445 $475-$525 Measured and Indicated 861 0.29% Resources Orion 2011 Reserves and Resources (000’s oz Au) Inferred Resources 30 0.22% Proven and Probable Reserves 1,285 0.65 Au g/t 2 Orion (50%), Mexico3 Measured and Indicated Resources 38 0.42 Au g/t 2 2011 Resources (000’s oz Au Eq) Measured and Indicated 2 Inferred Resources 8 0.46 Au g/t 2 330 9.27 Au g/t Resources Inferred Resources 29 4.98 Au g/t 21. Cash costs for the Young-Davidson and El Chanate mines are calculated on a per gold ounce basis, using by-product revenues as a cost credit. Production includes gold ounces only.2. Represents gold or gold equivalent grade as per technical reports and company disclosure.3. Following the completion of a joint venture agreement, which is anticipated in early 2013, Minera Frisco will acquire a 50% interest in the Orion project. 5
  6. 6. Compelling Value PropositionRepositioning for Consistent, Reliable, Sustainable Growth• High quality asset base • North American (low risk) focus • Cash costs below industry average • Organic growth profile • Mine longevity • Peer-leading balance sheet • Growing free cash flow stream • Strong leverage to gold price • Shareholder friendly initiatives focus  6
  7. 7. Young-Davidson MCM Historic Ramp Portal Mine Workings 2012A 2013E 10350L Open PitProduction (gold ounces)4 56,138 120,000-140,000 YD Historic Mine WorkingsCash Costs (per gold ounce)1,3 $690-$710 $575-675P&P Reserves (oz.) 3.8 million NG Shaft MCM ShaftMine Life (years) 18 years1. Cash costs for the Young-Davidson mine are calculated on a per gold ounce basis, using by- product revenues as a cost credit and are attributable to commercial production ounces only.2. Includes pre-production, sustaining and accelerated underground capital infrastructure costs. UBZ Zone3. The following currency assumptions were used to forecast estimates: • 1:1 Canadian dollars to the US dollar4. 2012 production includes pre-production ounces as well as ounces produced subsequent to the declaration of commercial production. 9890L • Commercial production Sept. 1/12 2nd Leg • Low cost producer & strong 9590L Northgate production growth profile Shaft (450m) 9400L • Underground production commenced from UBZ • Mill above name plate capacity 9200L • Hoisting ore during Q3 2013 • YD West Zone: strategic 8900L exploration focus YD West Zone 7
  8. 8. El Chanate MineDelivering consistent, stable results; lowest quartile cash costs Open Pit Tonnes Per Day Quarterly Production and Cash Costs $486 $465 $433 $434 $401 $409 101,305 19,093 19,388 97,591 18,080 17,822 82,600 16,444 14,871 64,781 37,625 2010A 2011A Q1-12 Q2-12 Q3-12 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12• Cash costs in lower quartile 2012A 2013E Production (gold ounces) 71,145 70,000-80,000• Achieved target mining rates of ~100k tpd Cash Costs (per gold ounce)1,3 $425-$445 $475-$525 P&P Reserves (oz.) 1.3 million Mine Life 8 years• Accelerated pre-development program in 2012 1. Cash costs for the El Chanate mines are calculated on a per gold ounce basis, using by-product revenues as a cost credit. Production includes gold ounces only. 2. Includes $29.2 million of accelerated pre - stripping of the South East Layback associated with the expansion of the crushing and stacking productivity from 14,000 tpd to 21,000 tpd. 3. The following currency assumptions were used to forecast estimates: • 12:1 Mexican pesos to the US dollar• Increasing areas under leach to 80% by end of 2012 8
  9. 9. New Discoveries at El Chanate Loma Prieta Hole ID From (m) To (m) Length (m) Au g/t CHCI-705 46.5 54.0 7.5 0.92 CHCI-716 52.5 64.5 12.0 8.35 North West Zone 58.5 66.0 7.5 3.60 Hole ID From (m) To (m) Length (m) Au g/t CHCI-717 88.5 93.0 4.5 6.52 183.0 192.0 9.0 0.31 CHCI-725 61.5 75.0 13.5 1.70 CHCI-731 210.0 217.5 7.5 0.26 CHCI-727 48.0 54.0 6.0 4.52 CHCI-732 55.5 82.5 27.0 0.45 CHCI-747 64.5 70.5 6.0 2.10 CHCI-733 24.0 34.5 10.5 0.91 CHCI-734 133.5 141.0 7.5 1.51 CHCI-735 97.5 103.5 6.0 2.07 CHCI-749 7.5 21.0 13.5 0.19 Rono Hole ID From (m) To (m) Length (m) Au g/t CHCI-740 76.5 135.0 58.5 0.27 CHCI-741 114.0 166.5 Hole 741 52.5 0.34(view looking south) El Chanate Mine (looking south) 9
  10. 10. Free Cash Generating CapacityIncreasing production profile at declining cash costs 2012E 2013E 2014E 2015E 2016E Production Cash CostsRobust FCF profile driven by long life mines, production growth, declining cash costs and capital expenditure profile 2012E 2013E 2014E 2015E 2016E El Chanate - Capex Young-Davidson - Capex FCF Source: Consensus data (December 2012) 10
  11. 11. Compelling Value PropositionRepositioning for Consistent, Reliable, Sustainable Growth• High quality asset base • North American (low risk) focus • Cash costs below industry average • Organic growth profile • Mine longevity • Peer-leading balance sheet • Growing free cash flow stream • Strong leverage to gold price • Shareholder friendly initiatives focus  11
  12. 12. Committed to ShareholderValue CreationCIBC Whistler Institutional Investor ConferenceJanuary 24, 2013
  13. 13. Management and Board of DirectorsExecutive Management TeamScott Perry - President and Chief Executive OfficerPeter MacPhail - Executive Vice President and Chief Operating OfficerRobert Chausse - Executive Vice President and Chief Financial OfficerBoard of DirectorsColin Benner - Executive Chairman of the Board, Sustainability Committee MemberMark Daniel - Compensation (Chair) and Corporate Governance Committee MemberRichard Mark Colterjohn - Corporate Governance (Chair) and Audit Committee MemberJoseph Spiteri - Sustainability Committee MemberAlan Edwards - Sustainability (Chair) and Compensation Committee MemberRonald E. Smith - Audit (Chair) and Compensation Committee MemberPatrick D. Downey - Audit and Corporate Governance Committee MemberScott Perry - President and Chief Executive OfficerLuis Chavez - Senior Vice President, Mexican Operations 13
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  16. 16. Proven and Probable Reserves Proven Reserves Probable Reserves Tonnes Gold Gold Tonnes Gold Gold (000s) (g/t) Ounces (000s) (g/t) Ounces (000s) (000s)Total - El Chanate 41,783 0.63 851 19,745 0.68 433Young-Davidson - Surface 4,173 1.40 188 3,394 1.27 139Young-Davidson - Underground 5,799 3.05 568 33,259 2.75 2,936Total Young-Davidson 9,972 2.36 756 36,653 2.61 3,075AuRico - Total 51,755 0.97 1,607 56,398 1.93 3,508 Proven and Probable Reserves Tonnes Gold Gold (000s) (g/t) Ounces (000s)Total - El Chanate 61,528 0.65 1,285Young-Davidson - Surface 7,567 1.34 327Young-Davidson - Underground 39,058 2.79 3,504Total Young-Davidson 46,625 2.56 3,831AuRico - Total 108,153 1.47 5,116 16
  17. 17. Measured and Indicated Resources Measured Resources Indicated Resources Tonnes Gold Silver Gold Silver Tonnes Gold Silver Gold Silver (000s) (g/t) (g/t) Ounces Ounces (000s) (g/t) (g/t) Ounces Ounces (000s) (000s) (000s) (000s)El Chanate 1,162 0.38 - 14 - 1,652 0.44 - 23 -Young-Davidson - Surface 739 2.02 - 48 - 3,499 1.26 - 142 -Young-Davidson - Underground 1,527 3.01 - 148 - 8,864 2.17 - 619 -Total Young-Davidson 2,266 2.69 - 196 - 12,363 1.91 - 761 -Orion (50%) - - - - - 554 3.36 309 65 5,503Kemess Underground - - - - - 136,500 0.56 - 2,610 -AuRico - Total 3,429 1.90 0 210 0 151,068 0.71 1 3,459 5,503 Measured and Indicated Resources Tonnes Gold Silver Gold Silver (000s) (g/t) (g/t) Ounces Ounces (000s) (000s)El Chanate 2,814 0.42 - 38 -Young-Davidson - Surface 4,238 1.39 - 190 -Young-Davidson - Underground 10,391 2.30 - 767 -Total Young-Davidson 14,629 2.03 - 956 -Orion (50%) 554 3.36 309 65 5,503Kemess Underground 136,500 0.56 - 2,610 -AuRico - Total 154,497 0.74 1 3,669 5,503 17
  18. 18. Inferred and Copper Resources Inferred Resources Tonnes Gold Silver Gold Silver (000s) (g/t) (g/t) Ounces Ounces (000s) (000s)El Chanate 549 0.46 - 8 -Young-Davidson - Surface 3,515 1.26 - 142 -Young-Davidson - Underground 14,784 2.71 - 1,289 -Total Young-Davidson 18,299 2.43 - 1,431 -Orion (50%) 91 3.33 95 10 275Kemess Underground 6,000 0.42 - 90 -AuRico - Total 24,938 1.92 0 1,539 275 Copper Resources Tonnes Copper Copper (000’s) (%) PoundsKemess Underground (000s)Indicated 136,500 0.29 861,000Inferred 6,000 0.22 30,000 18
  19. 19. Notes to Reserves and ResourcesNotes to Reserves and Resources:• Mineral Reserves and Resources have been stated as at December 31, 2011.• AuRico acquired Capital Gold Corporation, including the El Chanate and Orion properties, in April 2011. AuRico acquired Northgate Minerals Corporation, including the Young-Davidson, Fosterville, Stawell and Kemess properties, in October 2011.• Mineral Resources are in addition to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability when calculated using Mineral Reserve assumptions.• Following the completion of a joint venture agreement , which is anticipated in early Dec. 2012, Minera Frisco will acquire a 50% interest in the Orion project.• Reserves have been calculated in accordance with NI 43-101, as required by Canadian securities regulatory authorities. In addition, while the terms “Measured”, “Indicated and “Inferred” Mineral Resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC, and Mineral Resources disclosed in accordance with the requirements of the SEC. Investors should understand that “Inferred” Mineral Resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of AuRico Gold’s Mineral Resources constitute or will be converted into Reserves.The following metal prices were used for the calculation of Reserves and Resources: Reserves Resources Au $/oz Ag $/oz Au $/oz Ag $/oz Cu $/lbEl Chanate $1250 USD - $1450 USD - -Young-Davidson $1250 USD - $1450 USD - -Orion - - $850 USD $13.00 USD -Kemess Underground - - $1100 USD $20.00 USD $2.80 USD 19
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